A security interest arising solely under the chapter on sales (chapter 672) or the chapter on leases (chapter 680) is subject to the provisions of this chapter except that to the extent that and so long as the debtor does not have or does not lawfully obtain possession of the goods:

1. (1) No security agreement is necessary to make the security interest enforceable; and
2. (2) No filing is required to perfect the security interest; and
3. (3) The rights of the secured party on default by the debtor are governed by the chapter on sales (chapter 672) in the case of a security interest arising solely under such chapter or by the chapter on leases (chapter 680) in the case of a security interest arising solely under such chapter.

History.--s. 1, ch. 65-254; s. 5, ch. 90-278.

Note.--s. 9-113, U.C.C.